Baer Investment Advisory LLC Invests $3.12 Million in Veeva Systems Inc. (NYSE:VEEV)

Baer Investment Advisory LLC purchased a new stake in Veeva Systems Inc. (NYSE:VEEV) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,836 shares of the technology company’s stock, valued at approximately $3,119,000. Veeva Systems makes up about 6.5% of Baer Investment Advisory LLC’s portfolio, making the stock its 6th biggest holding.

Several other large investors have also added to or reduced their stakes in VEEV. Smith Group Asset Management LLC boosted its holdings in Veeva Systems by 2.2% in the 4th quarter. Smith Group Asset Management LLC now owns 82,567 shares of the technology company’s stock worth $17,360,000 after buying an additional 1,749 shares during the period. Venturi Wealth Management LLC lifted its stake in Veeva Systems by 2,716.7% in the fourth quarter. Venturi Wealth Management LLC now owns 169 shares of the technology company’s stock worth $36,000 after purchasing an additional 163 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in Veeva Systems in the fourth quarter worth $3,525,000. AEGON ASSET MANAGEMENT UK Plc lifted its stake in Veeva Systems by 10.1% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 117,757 shares of the technology company’s stock worth $24,755,000 after purchasing an additional 10,836 shares during the last quarter. Finally, SYM FINANCIAL Corp purchased a new position in shares of Veeva Systems in the fourth quarter valued at about $729,000. Institutional investors own 88.20% of the company’s stock.

Insiders Place Their Bets

In other Veeva Systems news, SVP Jonathan Faddis sold 787 shares of Veeva Systems stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $226.20, for a total value of $178,019.40. Following the transaction, the senior vice president now owns 8,668 shares in the company, valued at $1,960,701.60. The trade was a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy S. Cabral sold 3,882 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $216.83, for a total transaction of $841,734.06. Following the transaction, the director now owns 5,500 shares of the company’s stock, valued at approximately $1,192,565. This trade represents a 41.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,869 shares of company stock worth $1,284,917 in the last ninety days. 10.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Stephens restated an “overweight” rating and issued a $280.00 price objective on shares of Veeva Systems in a research report on Thursday, March 6th. JPMorgan Chase & Co. boosted their price target on shares of Veeva Systems from $218.00 to $249.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. Piper Sandler reduced their price target on shares of Veeva Systems from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Needham & Company LLC reiterated a “buy” rating and set a $270.00 price target on shares of Veeva Systems in a research report on Thursday, March 6th. Finally, KeyCorp cut their price objective on shares of Veeva Systems from $260.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $254.92.

Veeva Systems Price Performance

Veeva Systems stock opened at $233.41 on Friday. The stock has a market cap of $37.97 billion, a price-to-earnings ratio of 57.63, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The firm has a 50-day moving average of $228.95 and a two-hundred day moving average of $227.05. Veeva Systems Inc. has a 1 year low of $170.25 and a 1 year high of $258.93.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.